NEO News Roundup September 20th

· in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The NEO ecosystem continues to expand all over the world as new projects evolve and as they offer new solutions. This week we must mention the release of the Global Monthly Report, the Neo3 Benchmark results and the increase in the free GAS limit to get prepared for Flamingo. 

NEO Monthly Report

In the Neo Global Monthly Report, the company explains that August was a month of a large number of milestones for the entire NEO ecosystem. Perhaps the most important one was the Neo3 Preview3, which is one of the latest releases before Neo3 MainNet. 

It is worth mentioning that Preview 3 focuses on improvements for the protocol and it also takes care of bugs that were reported. This process of improvement is going to continue in the coming months. 

Furthermore, Neo 2 MainNet was also upgraded to version 2.11.0 in order to continue offering better solutions to those using the platform on a regular basis. Furthermore, Neo announced Flamingo Finance, which was created to offer solutions to DeFi protocols, developers and firms. 

Neo3 Node Benchmark Results

The Neo St Petersburg Competence Center (SPCC) released the latest information of the Neo3 performance results. Neo could be able to pass the previously discussed 10,000 transactions per second (TPS), as there could be further optimizations implemented on the network. 

It is worth mentioning that the tests were run by using a laptop with an i7-8565 CPU and 16GB RAM. 

On the matter, the report reads:

“We run tests on a single machine with just four physical (plus four HT) cores, and in this mode we run five (4 CNs plus 1 RPC) nodes there that accept RPC, distribute transactions via P2P, approve blocks in consensus, and process them. All of these nodes try to get as much CPU power and disk I/O as they can, but the machine is not that powerful.”

MainNet Update Notices – Raising Free Gas Limit

NEO is getting ready for Flamingo, the implementation that will definitely help DeFi protocols and developments to be released on top of the NEO network. NEO Global Development informed about the new version of the core Neo2 node client with changes on the transaction priority mechanism, free GAS discount and a block size limit. 

It is worth mentioning that the fees are usually paid when deploying or invoking smart contracts. The 10 GAS allowance grows to 50 in the new update. 

All these implementations could have a positive effect on NEO Price.  

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